Squarepoint Ops LLC Has $615,000 Holdings in Grupo Cibest S.A. - Sponsored ADR $CIB

Key Points

• Squarepoint Ops LLC cut its Grupo Cibest stake by 59.9% in the second quarter, selling 11,562 shares and retaining 7,744 shares valued at approximately $615,000.
• Analyst sentiment improved, with Goldman Sachs raising its price target to $110 and Citigroup upgrading the stock to “buy”; however, the overall consensus rating remains “Hold” with an average target of $90.83.
• Grupo Cibest reported quarterly EPS of $3.32, exceeding estimates of $2.14, and declared a special dividend of $1.6324 per share. Shares opened at $96.63, near their 52-week high of $105.60.

Squarepoint Ops LLC decreased its holdings in shares of Grupo Cibest S.A. - Sponsored ADR (NYSE:CIB - Free Report) by 59.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,744 shares of the bank's stock after selling 11,562 shares during the quarter. Squarepoint Ops LLC's holdings in Grupo Cibest were worth $615,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Nykredit A S bought a new stake in Grupo Cibest during the second quarter worth about $4,670,000. Corient Private Wealth LP acquired a new position in Grupo Cibest during the second quarter worth approximately $528,000. Public Employees Retirement System of Ohio bought a new stake in Grupo Cibest in the second quarter valued at approximately $79,000. E. Ohman J or Asset Management AB raised its stake in Grupo Cibest by 12.3% in the second quarter. E. Ohman J or Asset Management AB now owns 14,600 shares of the bank's stock valued at $1,160,000 after buying an additional 1,600 shares during the period. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Grupo Cibest in the second quarter valued at approximately $206,000.

Analysts Set New Price Targets

Several brokerages have recently commented on CIB. The Goldman Sachs Group lifted their target price on Grupo Cibest from $98.00 to $110.00 and gave the stock a "buy" rating in a research note on Thursday, August 13th. Bank of America upgraded Grupo Cibest from an "underperform" rating to a "neutral" rating and increased their price target for the company from $68.00 to $75.00 in a research note on Monday, June 1st. Zacks Research raised Grupo Cibest from a "hold" rating to a "strong-buy" rating in a report on Friday, July 17th. Itau BBA Securities upgraded shares of Grupo Cibest from a "strong sell" rating to a "market perform" rating in a report on Tuesday, May 26th. Finally, Citigroup raised shares of Grupo Cibest from a "hold" rating to a "buy" rating in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $90.83.

Grupo Cibest Stock Performance

Shares of NYSE CIB opened at $96.63 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.99 and a quick ratio of 0.99. The stock's fifty day moving average price is $93.92 and its two-hundred day moving average price is $79.83. Grupo Cibest S.A. - Sponsored ADR has a one year low of $50.72 and a one year high of $105.60. The firm has a market cap of $22.93 billion, a price-to-earnings ratio of 18.84, a P/E/G ratio of 0.74 and a beta of 0.65.

Grupo Cibest (NYSE:CIB - Get Free Report) last posted its earnings results on Monday, August 10th. The bank reported $3.32 earnings per share for the quarter, topping analysts' consensus estimates of $2.14 by $1.18. Grupo Cibest had a return on equity of 20.87% and a net margin of 10.80%.The company had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.40 billion. On average, equities analysts forecast that Grupo Cibest S.A. - Sponsored ADR will post 10.87 EPS for the current year.

Grupo Cibest Dividend Announcement

The firm also recently declared a special dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 8th were given a $1.6324 dividend. The ex-dividend date was Tuesday, September 8th. Grupo Cibest's payout ratio is presently 103.70%.

Grupo Cibest Profile

Grupo Cibest SA is a Colombian financial holding company formerly known as Bancolombia SA Through its subsidiaries, the group provides banking, payments, investment, insurance and other financial services to individuals, businesses and institutional customers.

Its principal banking operations are conducted through Bancolombia, which offers checking and savings accounts, consumer and commercial lending, mortgages, credit and debit cards, cash management, investment products and digital banking services.

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